Why Allogene Therapeutics Stock Is Getting Hammered Today
Shares of the off-the-shelf cell therapy company Allogene Therapeutics (NASDAQ: ALLO) are ending the week on a sour note. The biotech's stock is down by a jaw-dropping 44% as of 11:36 a.m. EDT Friday morning.
Allogene's shares are plunging today after the U.S. Food and Drug Administration placed a hold on the company's AlloCAR T clinical trials. The hold stems from a single chromosomal abnormality in a patient treated with the anti-CD19 CAR-T candidate known as ALLO-501A. The patient in question has stage IV follicular lymphoma and was refractory to two prior lines of immune-chemotherapy and additional radiation therapy, according to the company.
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Source Fool.com